CLASS 6B STATUS
The Class 6B tax incentive reduces the assessed value of the property, thereby reducing the overall property tax liability. With 6B status, Exchange 55 will be assessed at 10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year. This represents a typical property tax savings of 56% during the first ten years of occupancy. The 6B status may also be renewed for an additional 10 years.
HOW OUR PROPERTY TAXES COMPARE TO OTHER COUNTIES & MUNICIPALITIES
** Cook County Locations Assume 6B in Place